Lumber Liquidators Stores Largely Remain Open

St. Louis, MO, April 7, 2020-Analyst Stifel issued the following report on Lumber Liquidators’ performance amid the pandemic,

“Lumber Liquidator stores (419 stores in 47 states) remain open where local and state government permits but in many cases store hours have been reduced with hours being 9 AM to 5 PM now compared to around 7 PM before. Where showrooms are closed orders done by phone or online, which we estimate to have previously been less than 5% of sales, can pick up merchandise at the stores. Online tools like the Find It and Picture It are available to help customers and free samples are available (a credit goes towards your purchase to cover the expense). Customer service hours have also been extended from 7AM to 2 AM seven days a week.

“Sales thoughts. When gauging sales impact for Lumber Liquidators compared to Floor & Decor or the home improvement centers:

Pros:

• Most stores still open

• Stores geographically dispersed and not all in major metro areas where the virus is likely worse

Cons:

• Low online sales

• Low Pro sales with company’s own installation business”